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Share markets in India gained in the afternoon session as the Reserve Bank of India (RBI) kept its repo rate unchanged at 5.15%. The central bank raised its CPI inflation forecast for the first half of FY21 to 5-5.4%. It pegged FY21 GDP growth at 6%.

The RBI maintained its accommodative stance to support growth and said that there is policy space available for future action.

Barring consumer durable stocks, all sectoral indices are trading in green with stocks in the metal sector and healthcare sector witnessing most of the buying interest.

The BSE Sensex is trading up by 195 points, while the NSE Nifty is trading up by 54 points. The BSE Mid Cap index is trading up by 0.8%, while the BSE Small Cap index is trading up by 0.6%.

The rupee is currently trading at Rs 71.23 against the US$.

In news from the pharma sector, Lupin has received approval for its Leflunomide Tablets USP, 10 mg and 20 mg, from the United States Food and Drug Administration (USFDA), to market a generic equivalent of Arava Tablets, 10 mg and 20 mg, of Sanofi-Aventis.

The product would be manufactured at Lupin's Pithampur (Unit 1) facility, India.

Leflunomide Tablets USP had an annual sales of approximately US$ 44 million in the US.

Lupin share price is presently trading up by 1.4%.

Speaking of pharma sector, in the video below, Tanushree tells us where the sector stands now and also about the potential for a rebound.

Watch Now...

Moving on to news from the realty sector, shares of DLF fell over 3.5% today after the company posted a 23.8% rise in its net profit at Rs 4,141 million in the December quarter.

Its net profit stood at Rs 3,351.5 million in the year-ago period.

India's largest real estate firm saw 36.3% fall in its total income to Rs 15,333.4 million during the period, from Rs 24,058.9 million in the corresponding period previous year.

Despite fall in total income, the company's net profit increased due to an exceptional gain of Rs 2.3 billion during the December quarter.

Sequentially, DLF's net profit and total income fell 6.8% and 21%, respectively.

The company also declared an interim dividend of Rs 1.20 per share.

DLF said it received good response for its ready to occupy premium project 'Ultima' in Gurugram and has clocked sales of around Rs 8 billion from the launch of the second phase and remains focused on monetization of its completed inventory.

On the overall luxury residential segment, DLF said it is witnessing subdued demand currently and this may continue for a few quarters.

Last month, DLF had said it will invest Rs 50 billion to develop a commercial project, led by office development and some retail space, on 27 acres in Chennai's Taramani area.

With this project, DLF would have around 14 million sq ft of development in the southern city, and would become the second largest market after Gurugram.

DLF share price is presently trading down by 1%.

Speaking of the real estate sector, note that this is one sector that has tested investor patience over the years. While the sector has seen big moves in the last few years, the downward movement has been equally sharp.

The post demonetisation era has been tough on the sector. Excess inventory, i.e. housing projects stuck for years, has meant homeowners have largely stayed away from any fresh buying in the real estate space.

Also, post the IL&FS crisis, lending to real estate developers has largely dried up. The BSE Realty Index also reflects the same. It was down 31% in 2018.

But is the scenario about to change?

Real Estate - The Sector to Bet on After the Budget?

Here's what Tanushree Banerjee wrote about this in a recent edition of The 5 Minute WrapUp...

• Demonetisation, RERA, and the IL&FS crisis have hit the sector hard.
  
  The BSE Realty Index has had a tough time in the last few years.
  
  But there are signs of a turnaround. The government's Rs 250 billion package was a much need boost for the sector and homebuyers.
  
  A real estate revival is important for the steel, cement, and many other sectors. It is also an important job creator for India's young population.

What would be more interesting is the pickup in consumption once the real estate sector revives.

Once people get their homes, they are likely to spend on tiles, paints, furniture, electronics, pipes, cables, cement, and many other things.

Watch this space for more!

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